Local and state elected officials join the Florence Bank team to officially start the new project in Holyoke.
Reminder Publishing photo by Tyler Garnet
HOLYOKE — Florence Bank took the next step in its expansion into Hampden County by breaking ground on a 2,500-square-foot office at 1504 Northampton St., with a ceremony on Aug. 22.
The full-service Holyoke branch is expected to open in the spring of 2026 and will be the bank’s 13th branch overall and fourth in Hampden County.
Florence Bank President and CEO Matt Garrity led the ceremony that also included other bank leaders, employees and board members; Holyoke Mayor Joshua A. Garcia, state Sen. John Velis (D-Westfield), City Council President Tessa Murphy-Romboletti, representatives from HAI Architecture and the builder, The Colvest Group.
Garrity said, “From a strategic perspective, opening a branch in Holyoke allows us to expand our presence in Hampden County and enhances our retail banking footprint in the Pioneer Valley.”
In Holyoke in particular, the bank has over 1,200 retail and business customers.
The new office will have a spacious lobby, traditional teller stations, a drive-up window, a drive-up ATM and a night deposit box. In addition to the team of retail banking specialists, there will also be offices for a small business lender and Spanish speaking mortgage loan originator.
Garrity also talked about the estimated opening in spring 2026 and stated, “It seems fitting since no season better epitomizes growth and opportunity.”
Garcia, who shared he was excited to learn about the new development being built in Holyoke, talked about the impact the bank will have on the city.
He said, “I predict Holyoke and Florence Bank are going to have two more things in common and that’s obviously going to be the ongoing growth and prosperity that we continue to see at every corner of our city here in the city of Holyoke. Thank you very much to the Florence Bank team.”
Murphy-Romboletti was at the event on behalf of the City Council but also discussed how her full-time job as executive director of EforAll Pioneer Valley, an innovative nonprofit that partners with communities to help underrepresented individuals successfully start and grow their businesses, has allowed her to work closely with members from Florence Bank.
She explained, “I am lucky enough to be able to work with a lot of awesome people from Florence Savings Bank. There’s so many awesome volunteers, which is a testament to how great of an organization or business Florence Savings Bank is in the community and really just giving back to small businesses.”
Florence Bank is a mutual savings bank chartered in 1873. Currently, the bank serves the Pioneer Valley through branch locations in Florence, Northampton, Easthampton, Williamsburg, Amherst, Hadley, Belchertown, Granby, Chicopee, West Springfield and Springfield.
Additionally, it offers 23 ATMs and a wide range of financial services, including investment management through Florence Financial Group, to consumers and businesses.
Colvest CEO and founder Frank Colaccino said the construction team is currently working on connecting to city utilities between water and sewer and storm draining. He added he expects that within the next 30 days to 40 days, that residents “will begin to see a building go up.”
Colaccino concluded, “We’ll transform this site from an asphalt jungle into a well landscaped, beautiful building. We will see you at the ribbon cutting in the spring of [2026].”
